HomeMy WebLinkAboutORD 870513.018 - TMRS Updated Service CreditORDINANCE
AN ORDINANCE AUTHORIZING AND ALLOWING, UNDER THE ACT
GOVERNING THE TEXAS MUNICIPAL RETIREMENT SYSTEM, "UPDATED
SERVICE CREDITS" IN SAID SYSTEM FOR SERVICE PERFORMED. BY
QUALIFYING MEMBERS OF SUCH SYSTEM WHO PRESENTLY ARE IN THE
EMPLOYMENT OF THE CITY OF GEORGETOWN; PROVIDING A
SEVERABILITY CLAUSE; AND SETTING AN EFFECTIVE DATE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN:
SECTION 1. Authorization of Updated Service Credits.
a. On the terms and conditions set out in Sections 63.401 through 63.403 of
Title 110B, Revised Civil Statues of Texas, 1925, as amended, each member of
the Texas Municipal Retirement System who has current service credit or prior
service credit in said System in force and effect on the 1st day of January,
1988, by reason of service in the employment of the City of Georgetown, and on
such date has at least 36 months of credited service with said system, shall
be and is hereby allowed "Updated Service Credit" (as that term is defined in
subsection (d) of Section 63.402 of said title) in an amount that is 100% of
the "base Updated Service Credit" of the member (calculated as provided in
subsection (c) of Section 63.402 of said title). The Updated Service Credit
hereby allowed shall replace any Updated Service Credit, prior service
credit, special prior service credit, or antecedent service credit previously
authorized for part of the same service.
b. In
accordance with the
provisions
of
subsection (d)
of Section
63.401 of
said title,
the deposits
required to
be
made to the
Texas Municipal
Retirement.
System
by employees of the
several participating
departments
on
account of
current
service shall be
calculated
from
and after
the date aforesaid
on the
full amount
of such person's
earnings
as
an employee
of the City.
SECTION 2. If any section, paragraph, clause,
Ordinance shall be adjudged invalid or held
not affect the validity of this Ordinance as a
phrase, or provision of this
unconstitutional, the same shall
whole or any part or provision
thereof other than the part so declared to be
invalid
or unconstitutional.
SECTION 3. Subject to approval by the Board of Trustees of Texas Municipal
Retirement System, the updated service credit granted hereby shall be and
become effective on the Ist day of January, 1988.
Read on first reading this ,° day of -0..,4-o4a cre, 1987
Read and adopted on second reading this ID day of 19870
updated service credits ordinance (csf 018873.ord) page 1 of 2
ATTEST:
Denise Lebowitz, City Secret
Approved as to Form
STUMP & STUMP
BY:
City Attorne
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF GEORGETOWN
I,
City of
Council
adopted
giving
Article
being the current City Secretary of the
Georgetown do hereby certify that the attached ordinance of the City
of the City of Georgetown is a true and correct copy of such ordinance
at a council meeting open to the public and notice of said meeting,
the date, place, and subject thereof, was posted as prescribed by
6252-17, Section 3A, VATCS.
Dated this
(City Seal)
City Secretary
day of
19
updated service credits ordinance (csf 018873.ord) page 2 of 2